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  • The housing projects in Bernard Lodge, St. Catherine, and at Green Pond, St. James, are set for completion, following two Public-Private Partnership Agreements (PPPAs), signed between the Government and Herzog Jamaica Limited.
  • The agreements are for the design, finance and construction of the projects, to be done in phases.

The housing projects in Bernard Lodge, St. Catherine, and at Green Pond, St. James, are set for completion,  following two Public-Private Partnership Agreements (PPPAs), signed between the Government and  Herzog Jamaica Limited.

The agreements are for the design, finance and construction of the projects, to be done in phases.

Speaking at the  signing ceremony at his Maxfield Avenue offices, today (August 5), Minister of Transport, Works and Housing, Dr. the Hon. Omar Davies, said measures have been taken to ensure that prices remain close to the original agreements signed some two years ago.

Outlining the new agreements, the Minister said the depositors who have “kept their funds with us”  will be accommodated “at the original stated sale price, but with a five per cent escalation for Bernard Lodge.”

He pointed out that Herzog and the Housing Agency of Jamaica (HAJ) “have agreed to share the cost of the value of the work done to date,” adding that  the agreements will “remedy some of the deficiencies of the previous agreements.”

Under the new agreements,   67 one bedroom units and 276 studios will be built at Bernard Lodge, in the first phase; and at  Green Pond, 194 one bedroom houses, 85 two bedrooms and 45 serviced lots will be delivered in the first phase of the project.

The Minister pointed out that the agreements have several important clauses that will enable the projects to be completed unhindered.

He said the obligations of the parties are clearly defined, with binding commitments relating to performance, the maximum that the price can be adjusted, and establishment of Project Committees to ensure the smooth running of the schemes.

“There is a clause for insurance, there is a clause which allows Herzog to purchase unsold units, and there is a clear clause on how the agreements can be terminated,” the Minister said.

Dr. Davies pointed out that it took a long time to finalise the agreements, as the Ministry wanted to ensure that all the problems that caused the termination of the work, were addressed.